Connor Clark & Lunn Investment Management Ltd. Has $6.83 Million Stock Position in Genworth Financial, Inc. (NYSE:GNW)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its holdings in Genworth Financial by 20.5%, now owning approximately 963,734 shares valued at $6.83 million.
• A total of 81.85% of Genworth Financial's stock is owned by hedge funds and institutional investors, indicating strong institutional interest in the company.
• Genworth Financial reported an earnings per share (EPS) of $0.16 for the most recent quarter, outperforming analyst expectations significantly.

Connor Clark & Lunn Investment Management Ltd. raised its holdings in Genworth Financial, Inc. (NYSE:GNW - Free Report) by 20.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 963,734 shares of the financial services provider's stock after purchasing an additional 164,192 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.23% of Genworth Financial worth $6,833,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. LPL Financial LLC raised its position in shares of Genworth Financial by 44.0% during the 4th quarter. LPL Financial LLC now owns 33,163 shares of the financial services provider's stock valued at $232,000 after acquiring an additional 10,135 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Genworth Financial by 26.1% during the 4th quarter. Wells Fargo & Company MN now owns 266,198 shares of the financial services provider's stock valued at $1,861,000 after acquiring an additional 55,078 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Genworth Financial by 13.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 19,861 shares of the financial services provider's stock valued at $139,000 after acquiring an additional 2,343 shares in the last quarter. Bank of Montreal Can raised its position in shares of Genworth Financial by 13.0% during the 4th quarter. Bank of Montreal Can now owns 51,072 shares of the financial services provider's stock valued at $357,000 after acquiring an additional 5,870 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Genworth Financial by 12.5% in the fourth quarter. Renaissance Technologies LLC now owns 2,558,600 shares of the financial services provider's stock valued at $17,885,000 after acquiring an additional 283,700 shares during the period. 81.85% of the stock is owned by institutional investors and hedge funds.

Genworth Financial Stock Performance

Shares of NYSE:GNW traded down $0.04 on Thursday, hitting $8.54. The company's stock had a trading volume of 5,121,223 shares, compared to its average volume of 6,306,215. Genworth Financial, Inc. has a 12 month low of $5.99 and a 12 month high of $8.60. The company has a market capitalization of $3.50 billion, a price-to-earnings ratio of 18.97 and a beta of 1.12. The stock's 50-day moving average is $7.64 and its two-hundred day moving average is $7.16. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.29 and a current ratio of 0.29.

Genworth Financial (NYSE:GNW - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.11. Genworth Financial had a return on equity of 1.91% and a net margin of 2.61%. The company had revenue of $1.80 billion during the quarter.

Analysts Set New Price Targets

Several brokerages have weighed in on GNW. Keefe, Bruyette & Woods increased their target price on Genworth Financial from $9.00 to $9.50 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Wall Street Zen downgraded shares of Genworth Financial from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd.

Genworth Financial Profile

Genworth Financial, Inc, together with its subsidiaries, provides mortgage and long-term care insurance products in the United States and internationally. It operates in three segments: Enact, Long-Term Care Insurance, and Life and Annuities. The Enact segment offers private mortgage insurance products primarily insuring prime-based, individually underwritten residential mortgage loans; and pool mortgage insurance products.